Borno State Economy 2026

Key industries, IGR performance, revenue dependency and economic ranking among Nigeria's 36 states. For full appropriation figures see the Budget page.

Overview Economy Budget History LGAs

🏭 Borno State — Economic Profile

North East

⚠ FAAC-Dependent Economy

The economy of Borno is largely driven by agriculture, livestock production, fishing, and cross-border trade with neighbouring countries like Chad, Niger, and Cameroon. Key crops include millet, maize, rice, and sorghum.

Key Industries

Agriculture Livestock Trading Fishing Crafts & Textiles

💰 Revenue Dependency — IGR vs FAAC

2026

A state that earns a high percentage of its revenue from IGR (taxes, levies, fees) is fiscally independent. A state that relies heavily on FAAC (monthly federal oil revenue share) is vulnerable to oil price shocks and federal revenue declines.

87.8%

IGR: ₦44.3B — 12.2% of revenue FAAC: ₦317.7B — 87.8% of revenue

Borno relies on federal FAAC allocations for 87.8% of its revenue, which is typical of many Nigerian states. Expanding the tax base and improving IGR collection are important development priorities.

IGR

₦44.3B

12.2% of revenue

#14 in Nigeria

FAAC Allocation

₦317.7B

87.8% of revenue

Total Budget

₦892.4B

2026 appropriation

Full breakdown →

Budget Per Capita

₦152,295

Pop: 5.86M

For full appropriation figures — sector allocations, CapEx breakdown and year-on-year budget history:

Borno Budget →

🏗 Spending Priorities

2026 — summary

Where Borno State directs its public spending — relative allocation across key sectors from the 2026 budget.

Education ₦135.4B

15.2% of total budget

Infrastructure ₦94.3B

10.6% of total budget

Health ₦66.4B

7.4% of total budget

Agriculture ₦44.9B

5% of total budget

See exact naira figures per sector, debt service and security allocations:

Full Sector Breakdown →

📈 IGR Revenue Trend

2 years

Year	IGR	FAAC	IGR %	Total Budget
2026 Latest	₦44.3B	₦317.7B	12.2%	₦892.4B
2024	₦12,000	₦230,000	5%	₦280,000

🏆 Nigeria State IGR Ranking

Internally Generated Revenue

#	State	IGR
1	Lagos	₦3.1T
2	Rivers	₦1.2T
3	Enugu	₦870.0B
4	Ogun	₦509.9B
5	Bayelsa	₦450.0B
6	Niger	₦326.9B
7	Niger	₦326.9B
8	Abia	₦223.4B
9	Osun	₦199.6B
10	Bauchi	₦180.0B
14	Borno	₦44.3B

❓ FAQs — Borno State Economy

What is the economy of Borno State?

What are the key industries in Borno State?

Borno State's economy is driven by: Agriculture, Livestock, Trading, Fishing, Crafts & Textiles. The state generates ₦44.3B in IGR annually, representing 12.2% of its total revenue.

What is Borno State's IGR (Internally Generated Revenue)?

Borno State generated ₦44.3B in IGR in 2026, representing 12.2% of total revenue. The remaining 87.8% came from FAAC (federal allocations). Borno ranks #14 of 38 states by IGR.

How does Borno State rank among Nigerian states economically?

Borno State ranks #14 of 38 states by Internally Generated Revenue (IGR) and #20 by total budget size. Like most Nigerian states, it relies significantly on FAAC allocations from the federal government.

What is the difference between IGR and FAAC in Nigerian states?

IGR (Internally Generated Revenue) is money a state collects from within its own economy through taxes, levies and fees — without depending on the federal government. FAAC (Federation Account Allocation Committee) distributes shared national revenue — mainly from oil sales and VAT — monthly to all tiers of government. States with high IGR like Lagos are fiscally independent, while most states depend on FAAC for over 60-80% of their revenue.

Does Borno State have oil resources?

Borno State is not classified as a major oil-producing state and does not receive the 13% derivation fund. Its economy depends on agriculture, commerce, solid minerals and services, with federal FAAC allocations as the primary government revenue source alongside IGR.

Data note: IGR and FAAC figures are sourced from published FAAC distribution reports and state appropriation laws. Population figures are NBS estimates. All amounts in Nigerian Naira (₦). For the most current data refer to the OAGF and individual state ministry of finance publications.